Free Nifty F&O tips for 8 May 2014
NIFTY May expiry future last closed at 6677 with 70 points loss. In Intraday NIFTY, future made high at 6750 while low was at 6670. Total almost 80 points intraday range and closed with loss on sharp profit booking. On futures side, +7.31% open interest build up suggest fresh short addition. On option side, 7000 call options writing was seen which is upcoming resistance. Nifty future tried to maintain uptrend but sharp profit booking now turned trend down so traders below 6690 spot keep short view on nifty. Considering 30 points premium for nifty future stop loss comes at 6720. On downside, nifty may show 6600-6550 levels.
Free Banknifty F&O tips for 8 May 2014
BANKNIFTY May expiry future last closed at 13,003 with loss of 54 points. In intraday BANK NIFTY, future hit high at 13,136 while low was at 12,960. Total 180 points intraday range and closed with loss. On futures, side +2.35% open interest build up suggest fresh short addition. On option side 13,000 call options writing has been seen. For tomorrow, 13,200 is strong resistance and out look is negative so go short near 13,200 with strict stop loss 13,300 for target 12,900-12,800 on downside.
Free VIX tips for 8 May 2014
India VIX active future last closed at 3413 with almost 11 points loss. In intraday NVIX hit high at 3440 while low was at 3380. Total 60 points intraday range and closed with loss on profit booking. On futures, side +0.92% open interest addition seen. For tomorrow, buy near 3380 with stop loss below 3340 and for target 3450-3480.
Free Stock tips for 8 May 2014
Tata Steel Limited stock closed at 400 with loss. In intraday stock hit high at 404 while low was near 396. For tomorrow, traders can sell this stock near 404-405 levels with strict stop loss 412 for targets 380.